Sale of 111 E. Wacker falls through

A deal to sell a 30-story tower within Illinois Center in the East Loop has fallen apart. Sources say Carlyle Group and Lincoln Property Co., owners of 111 E. Wacker Drive, have taken the 977,000-square-foot building off the market after Phoenix-based pension fund adviser Pivotal Group Inc. substantially reduced its initial offer of about $150 million.

Representatives of Lincoln Property and Pivotal weren't available for comment Friday.